QUESTION
Can the mortgage company refuse payments if you are behind?
Asked on Oct 10th, 2013 on Foreclosures - Texas
More details to this question:
We are behind on our mortgage and we are trying to send in the behind payments but they sent them back. They said it is going into foreclosure and they need the payments and all the fees.
1 ANSWER
Wills and Estate Planning Attorney serving Sugar Land, TX
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Law Offices of Kimberly D. Moss, PLLC
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Yes, they can do this. Most mortgage loans have an acceleration clause which allow the bank to require the entire loan amount if you are far enough behind of payments. Unless you can come up with the loan amount required to save your home, they will forcelose on your home. At this point you need to seriously considering filing for bankruptcy to prevent the foreclosure of your home.
Answered on Oct 10th, 2013 at 3:22 PM